Weekly trading volume across South Korea’s five largest digital asset exchanges fell to about KRW 8.06 trillion in the seven days from 2 p.m. on July 9 to 2 p.m. on July 16, according to a report by Korean media outlet Digital Asset cited by ChainCatcher. The figure marked another week-on-week decline and the lowest level in about three years and two months.
The report said the combined weekly volume has been falling for several consecutive weeks. It moved from KRW 17.7 trillion in the June 5 to June 12 period to KRW 15.4 trillion, KRW 14.6 trillion, KRW 13.4 trillion, and KRW 9.97 trillion, before dropping again to KRW 8.06 trillion in the latest reading. That put the market below the KRW 8.44 trillion recorded from May 11 to May 18, 2023, making it the weakest weekly tally since then.
Market-share rankings among the five exchanges did not change. Upbit remained the largest venue with 63.57%, though its share was down 0.63 percentage points from the previous week. Bithumb accounted for 29.18%, Coinone for 6.41%, while Korbit and Gopax held 0.76% and 0.07%, respectively.
Weekly trading volume across South Korea’s five largest digital asset exchanges fell to about KRW 8.06 trillion in the seven days from 2 p.m. on July 9 to 2 p.m. on July 16, according to Korean media outlet Digital Asset.
The latest figure was lower than the previous week and marked the weakest level in about three years and two months.
Data cited in the report showed that combined weekly volume at the country’s five major exchanges has been declining for several consecutive weeks. It fell from KRW 17.7 trillion in the June 5 to June 12 period to KRW 15.4 trillion, KRW 14.6 trillion, KRW 13.4 trillion, and KRW 9.97 trillion, before sliding again to KRW 8.06 trillion in the latest week.
That reading was also below the KRW 8.44 trillion recorded from May 11 to May 18, 2023, making the latest total the lowest since that period.
Exchange market-share rankings were unchanged. Upbit remained in first place with 63.57%, though its share slipped 0.63 percentage points from a week earlier. Bithumb stood at 29.18%, Coinone at 6.41%, while Korbit and Gopax accounted for 0.76% and 0.07%, respectively.
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